Payroll Management

Ineffective payroll management and shoddy payroll systems can result in personal liability (including JAIL TIME) for non-compliance.

Business Management Daily helps our readers with information on payroll processing and tips on timesheets that will help you to implement payroll programs that pay off.

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Not ­getting your tax notices forwarded to your new address can be a deadly oversight. To separate out notifications from individuals and businesses, the IRS has created new Form 8822-B.
Payroll procedures for handling bonuses are affected by the FLSA. While such bonuses can increase morale, provide incentive to work harder, and entice strong applicants to join a company, improper treatment of employee bonuses can lead to FLSA violations. 

Nowadays, IRS auditors ask for your electronic accounting records. But software files often contain data beyond the audit years, and software programs routinely create metadata for every data file created. So how do you keep the IRS from snooping around the personal and confidential business informations contained in those files?

The Fair Labor Standards Act doesn’t require you to provide employees with meal breaks. It does require you to pay employees whose meal breaks last for fewer than 30 minutes and those who work through their meal breaks. However, 40 states do have laws covering meal and rest breaks. This chart summarizes those laws.

$3,400: That’s how much the tax gap—the difference between what’s owed and what’s paid—costs every single taxpayer in extra taxes. And the figure is only growing. Proposals to close the tax gap were raised at a recent congressional hearing.

The FLSA restricts the docking of employees' pay. Many times employers' decisions on docking will push an employee from an exempt classification to a nonexempt, or push an employee whose pay has been docked into court.
Few eligible small employers are claiming the health care tax credit, despite the IRS’ numerous public relations efforts, according to the Treasury Inspector General for Tax Administration. Among the reasons given for the low take-up rate: It took too long and it was too hard to claim the credit.
The IRS has been busy adding to its regulatory agenda. Here’s the latest news from the regulations front.
Anita Bartels, the IRS' senior program analyst for employment tax policy, appeared at the American Payroll Association’s 30th Annual Congress, held this year in Orlando, Fla., to report on some major initiatives and to clarify others. Here’s the rundown on three hot payroll issues.
By the end of June, the U.S. Supreme Court is expected to let us know whether some or all of the Affordable Care Act health care reform law will stand—or be struck down. The highly anticipated decision notwithstanding, it’s a good idea to get your W-2 reporting ducks in a row now.
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